Ann Arbor Subdivision Inventory is Down

The Bouma Group also tracks, in detail, statistics for each Ann Arbor Subdivision. So to find out more about what is selling in your specific Ann Arbor neighborhood, give us a call at 734-761-3060 or info@bouma.com. And, if you're considering making a new home purchase we can help you decide which Ann Arbor Subdivision is right for you! Check out the great Buyer Services we offer or search the Ann Arbor MLS here.

Posted Tuesday, January 10, 2012 by Martin Bouma
Tags: Ann Arbor Homes, Ann Arbor Home Buyer, ann arbor neighborhood, ann arbor subdivision, ann arbor school district, ann arbor real estate market update, Ann Arbor Subdivision Hotline

The Overall Ann Arbor Real Estate Market is Balanced

Comparing the end of October to the end of September, the number of Ann Arbor homes listed for sale declined by 7% and the number of homes under contract declined by 4%. All price points saw lower inventory as more homes sold than were listed. The decreasing inventory with increased sales trend of the late summer/early fall has ended and as you can see in the chart above, sales for the past 12 months slightly declined.

The real estate market for the entire Ann Arbor school district is in a balanced market at a 6.3 months supply of homes. Most price ranges had decreases in the months supply of homes, except for the under $100k and the $800k-$1M price ranges, which saw small increases. Over 1M we have a 26.25 months supply of housing available, which means it would take over 26 months for all of the current inventory to sell with no new homes coming to the market. Price ranges under $300k and the $300k-$400k, along with the $700k-$800k ranges are now in seller's markets, as sales remain up and inventory is down. The rest of the price ranges are still in a buyer’s market.

Now is a great time to purchase an Ann Arbor home! Although there is lower inventory, sellers are motivated and there isn't as much buyer competition as in the summer months. And with the historically low interest rates, your purchase power is increased by thousands. So if you're considering making a new home purchase, contact us today at info@bouma.com or 734-761-3060 to find out which Ann Arbor Subdivision is right for you! Check out the great Buyer Services we offer or search the Ann Arbor MLS here.

Posted Thursday, November 17, 2011 by Martin Bouma
Tags: Ann Arbor Homes, Ann Arbor Home Buyer, ann arbor subdivision, ann arbor school district, ann arbor real estate market update, ann arbor real estate trends, Ann Arbor Subdivision Hotline

Inventory for the overall Ann Arbor school district is still declining, when comparing the end of August to the end of September. The number of Ann Arbor homes listed for sale has dropped by 8.2%, and when compared to the high of 789 homes listed in May25%. The number of homes under contract declined by 6%, while sales for the past 12 months increased by 4.5%. Homes that went under contract during the summer months have mostly closed, with not a lot new homes listed, so most price points saw a decline in inventory.  However, we did see raised inventory in the under $100k market, which went up 14%, and the over $1M mark, which increased slightly with 1 new listing. The trend of decreasing inventory with increased sales that we've been seeing, is balancing out. Sales for the past 12 months, in most price points, has stayed fairly steady when compared to last month.

The months supply of homes for the entire Ann Arbor real estate market is at 6.8, a decrease of 11%, and is now considered a balanced market for the first time since February 2011. The under $100k and over $1M price ranges have seen increases in the months supply, along with increased inventory, while all other price points have had decreases in the months supply of homes. Over 1M we have a 30 months supply of housing available, which means it would take 30 months for all of the current inventory to sell with no new homes coming to the market. A balanced market continues for all price ranges between $200k-$400k and now includes the $700-800k range, as sales stay up and inventory is down. The under $100 market continues to be in a seller’s market and the remaining markets are still in a buyer’s market.

In the real estate market, if there is less than a 5 months supply of homes on the market, you are in a seller’s market. A 5-7 month supply of homes is a balanced market. Anything over 7 months is a buyer’s market.

The Ann Arbor rental market remains basically unchanged when compared to the end of last month and is strong with a 2.5 months supply, as sellers are choosing to rent their homes and wait for their market to fully recover.

If you haven't already made that Ann Arbor Home purchase, now is the perfect time! Interest rates are even lower than they were last month, increasing your buying power, and there are great home prices out there. The Bouma Group real estate experts know the market trends, so if you're considering making a move in Ann Arbor or Washtenaw County, contact us today at info@bouma.com or 734-761-3060. Start your search now and get immediate listing and sold information for all Ann Arbor Subdivisions here!

Posted Thursday, October 20, 2011 by Martin Bouma
Tags: Ann Arbor Homes, Ann Arbor Home Buyer, ann arbor subdivision, ann arbor school district, ann arbor real estate market update, Ann Arbor Subdivision Hotline

Mortgage Rates Continue to Fall

Ann Arbor mortgage rates continue to fall and have hit another low! Rates have been down for 6 weeks now and at this lower level for the past 2 weeks. We should continue to have rates in this range through the end of the year, making this a perfect time to make an Ann Arbor home purchase with lower mortgage payments!  Your buying power has increased by $10,000 – $40,000, depending on your purchase price, with these new rates.

Remember that interest rates are subject to change without notice. The rates listed above are average rates and are presented to provide an illustrative perspective. To find out more about the current interest rates and which loan program is best for you, contact Charlie Chapell with United Bank & Trust today at 734-214-2728 or cchapell@ubat.com. If you haven’t already taken advantage of the low interest rates combined with low home prices, now is the best time! To search for that perfect Ann Arbor real estate, visit our Ann Arbor MLS site here!

Posted Saturday, October 08, 2011 by Martin Bouma
Tags: ann arbor real estate, Ann Arbor Homes, Ann Arbor Condos, ann arbor mortgage interest rates

Inventory continues to decrease for the overall Ann Arbor real estate market when comparing the end of July with that of August. Ann Arbor homes for sale dropped by 10%, while the number of homes under contract declined by 6.5%, and we saw a small increase of 2% in sales for the past 12 months. Like the end of last month, all price points lost inventory, with the $500-$600 range seeing the largest drop- 19%. The exception was the $400-500k range which increased, but only by 5%. As the great number of homes that went under contract in early summer close, we continue to see the trend of decreased inventory with increased sales and decreased new inventory. We will most likely see this trend throughout the next month or so, as the homes currently under contract close and the busier summer market comes to an end.

The months supply of homes also remained the same for the overall market and is still considered a buyer’s market at 7.6. All price points have seen decreases in the months supply of homes with the $500-600k range seeing the largest drop of 27%. The exception to this is the $400k-500k price point, which saw an increase of 5%. There is a 28.8 months supply over 1M, which means it would take 28.8 months for all of the current inventory to sell with no new homes coming to the market. There is a balanced market in all price ranges between $200k-$400k, which we haven't seen in a long time. The under $100 market continues to be in a seller’s market and everything over $400k is still in a buyer’s market, but all price ranges have seen a decrease when compared to the previous month.

The Ann Arbor rental market remains relatively unchanged and is strong with a 2.6 months supply, as sellers are choosing to rent their homes and wait for their market to fully recover.

In the real estate market, if there is less than a 5 months supply of homes on the market, you are in a seller’s market. A 5-7 month supply of homes is a balanced market. Anything over 7 months is a buyer’s market. As the summer real estate market comes to a close, there are still many great homes and deals out there. If you are considering making a move in the Ann Arbor area, contact us today at info@bouma.com or 734-761-3060. View all Ann Arbor Subdivisions, visit Ann Arbor Condo complexes and see the free buyer services The Bouma Group offers here!

Posted Thursday, September 08, 2011 by Martin Bouma
Tags: Ann Arbor Homes, Ann Arbor Home Buyer, ann arbor school district, ann arbor real estate market update, ann arbor real estate trends, Ann Arbor Subdivision Hotline